The ATO has explained what accounting methods taxpayers can use for long-term construction projects. Two methods of accounting are available: the basic approach (essentially the accruals method) and the estimated profits approach.

The ATO is now examining whether Uber trips should be eligible for the “taxi travel” FBT exemption. The Federal Court ruled that UberX drivers must be registered for GST, because they supply “taxi travel”. There has been much discussion of this finding since, and the ATO is now examining whether Uber trips should be eligible for the “taxi travel” FBT exemption.

Earlier in 2017, the Federal Court ruled that UberX drivers must be registered for GST, because they supply “taxi travel”. There has been much discussion of this finding since, and the ATO is now examining whether Uber trips should be eligible for the “taxi travel” FBT exemption.